New Mobile Fee Collection System Launched by MyBucks Banking Corporation

Malawi: MyBucks Banking Corporation has launched a new mobile fee collection system that enables its registered mobile banking customers to easily pay fees for schools, hospitals, and churches, writes Moses Nyirenda.

The new system was developed as the bank is working to become the best digital bank in the country, simplifying the lives of its customers through technology.

"We noted that there was a need for an efficient and cost-effective payment method for students, churches, and hospitals, which compelled us to develop this new system," said Felix Chitera, MyBucks Head of Channels.

"The system allows school fees, church contributions, and hospital payments to be made via the MyBucks mobile banking platform (*632#) and over-the-counter teller transactions."

Chitera added that the new system provides various benefits, such as error minimization for institutions, accuracy and timely record-keeping, and a cost-effective self-service fee payment option.

He also stated that the system is the first of many innovative products that MyBucks plans to launch this year with the goal of becoming the best digital bank in the country.

One of MyBucks' customers, Patience Perera, applauded the bank for introducing the new fee collection system.

"The new fee collection system seems to be more convenient as well as secure, and this is a welcome development for me as a customer," she said.

The launch of the new fee collection system comes as the Reserve Bank of Malawi recently approved the acquisition of MyBucks by the Centenary Rural Development Group of Uganda and the Archdiocese of Lilongwe.